Q&A: can payday loans get put on bankruptcy also have anyone ever filed bankruptcy ?

Question by SHANI D: can payday loans get put on bankruptcy also have anyone ever filed bankruptcy ?
what is the process do i have to to court what is the process how long does it takes

Best answer:

Answer by billy bad ass
Okay, the thing about this is that depending on how fresh the payday loan is the lender can declare “fraud” to the bankruptcy courts, which would still obligate you to that debt. Payday loans are considered “unsecured debt” and it would be optimal to wait at least 6 months from the due date to file. The negative to that is the amount of harrassment that will be given during that time.
On another note, I would highly recommend doing as much research
as you can before deciding to file bankruptcy due to the HUGE impact that this can have on your life. Also, I would do a budget analysis to see if it is feasible to avoid bankruptcy at all costs. You do have several other options such as debt settlement, credit counseling, etc…
Below, you will find a few resources to educate yourself about the downsides of bankruptcy. Also, I would highly advise contacting a professional just be certain to get credentials from anyone giving you financial advice.

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